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Canadian stocks declined after gaining six sessions in a row. The S&P/TSX Composite Index closed 18.38 points, or 0.15 percent, lower at 11,927.59 on Friday. For the week, the benchmark equity index rose 2.23 percent. Eleven out of 12 sectors on the Toronto Stock Exchange (TSX) registered losses on Friday with the index measuring the [...]
Archive for June, 2010
Roundup: Canadian stocks decline after gaining six sessions in a row
Posted by gary on June 19th, 2010
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Best’s Rating Notification – PartnerRe Insurance Company of New York
Posted by gary on June 18th, 2010
A.M. Best Company has made the following rating update: Company: PartnerRe Insurance Company of New York AMB Number: 3025 Current Rating: A+ Previous Rating: A+ To obtain more information about this company, please visit: http://www3.ambest.com/frames/fs.asp?site=ratings&RefNum=3025&tab=4 For Definitions of Best’s Ratings and Not Rated Categories (NR) visit: http://www.ambest.com/ratings/definition.html
Oregon Insurance Division to Close for Six Furlough Days
Posted by gary on June 18th, 2010
The Oregon Division of Insurance will be closed June 18 and five other Fridays in the next 12 months as it absorbs its share of budget cuts mandated throughout state government. Oregon is part-way through a budget cycle of sharply reduced state revenues. Staff at the insurance division, part of the Department of Consumer and [...]
JAPANESE AUTO POLICY SALES UP 8% AT 8 INSURERS IN FY09
Posted by gary on June 18th, 2010
Sony Assurance Inc. and seven other direct-sales nonlife insurers saw their combined Auto Insurance premiums rise 8 per cent on the year to 183.5 billion yen (US$20.02 billion) in fiscal 2009. With rates about 20 per cent less than those of major conventional casualty insurers, many vehicle owners have switched to these direct-sales nonlife insurers, [...]
Kingsway Financial to Sell Mendota Insurance
Posted by gary on June 16th, 2010
Kingsway financial Services Inc. said it plans to sell its wholly owned subsidiary, Mendota Insurance Co., a nonstandard insurance writer headquartered in Eagan, Minn. So far in 2010, Kingsway (NYSE: KFS) has also sold off Jevco Insurance Co. to the Westaim Corp. for about C$264.2 million (US$256.7 million). In 2009, the company disposed of its [...]
HHS: Insurers Can Tweak Plans Without Jeopardizing Grandfathered Status
Posted by gary on June 16th, 2010
The U.S. Department of Health and Human Services issued another in its series of new rules under the health care reforms, this one regulating how health insurers can change plans while still maintaining their grandfathered protections. The Patient Protection and Affordable Care Act demands a number of significant changes to health plans. But plans that [...]
Best’s Rating Notification – Contractors Bonding and Insurance Co
Posted by gary on June 16th, 2010
A.M. Best Company has made the following rating update: Company: Contractors Bonding and Insurance Co AMB Number: 2719 Current Rating: A Previous Rating: A To obtain more information about this company, please visit: http://www3.ambest.com/frames/fs.asp?site=ratings&RefNum=2719&tab=4 For Definitions of Best’s Ratings and Not Rated Categories (NR) visit: http://www.ambest.com/ratings/definition.html
No new tax in Punjab budget: o new tax in Punjab budget
Posted by gary on June 16th, 2010
The PML-N-led government in Punjab on Monday presented its third budget for the fiscal year 2010-11 with a total outlay of Rs 583.6 billion, including a record allocation of Rs 193.5 billion for the Annual Development Programme (ADP). Last year, the total budget outlay stood at Rs 489 billion. The government also announced 50 per [...]
